As we all prepare to buy extra bags of our favorite candy this Halloween, knowing full well that trick-or-treaters will only see a fraction of the bowl because your partner ate most of the fun-size bars the night before, it’s dawning on many that the cost of chocolate is exorbitantly high this year. Of course, ever since the pandemic, rising prices throughout the grocery store have left us awestruck. Still, this Halloween feels different, more terrifying—it’s not the witches and ghouls roaming the streets. It’s the price tags on your favorite chocolate!
According to recent reports from the producer price index, the cost of chocolate and candy manufacturing rose drastically by 45% between January and February. That’s just the most recent increase. The cost of chocolate has steadily risen since 2020, with this year’s increase a drastic upturn. In all, the price of your favorite chocolate treats has doubled from January 2020 to January 2024 and even more since then.
So, why is your favorite candy more expensive than ever? The most significant detriment to the cocoa-production industry is the ever-changing and worsening weather conditions worldwide that continue to prove unfavorable for regions across West Africa. A lot of wind spikes and heat continue to batter farms throughout the Ivory Coast. Cocoa requires abundant rain, high humidity, and protection from the wind to thrive.
Speaking to Reuters, Circana’s Dan Sadler said most consumers refuse to buy chocolate due to the rising cost, but they’re spending elsewhere. Sadler said:
“Chocolate candy, there’s just not as many items per retailer on (the) shelf. We’re seeing double-digit increases in non-chocolate items.”
You’re in luck if your sweet tooth favors gummy or sour candies. Everyone’s favorite fruity flavors tend to sell well this time of the year—more so due to the rising cost of chocolate confectionaries—with Hershey unsurprisingly leading the pack with an entirely new line of Jolly Rancher gummies.
But come on, can you really resist Reese’s peanut butter pumpkins? They taste better than regular Reese’s cups!